Case-Shiller – Chicago home and condo prices down sharply

by Joe Zekas on 1/31/12

It’s the last Tuesday of the month, a/k/a Case-Shiller Tuesday, and the results are in for November home price trends.

The seasonally-adjusted index for metro-area Chicago single-family homes dropped 2.28% from the previous month and dropped year-over-year by 5.82%. This places the current index just below price levels prevailing in October of 2001.

The seasonally-adjusted condo index also fell month-over-month, decreasing by 3.69% and fell year-over-year, by 9.47%. That index is now just below June of 2000 levels.

The single-family and condo index prices declined for the third straight month, following several months of price increases.